Document Type : Article
Department of Statistics, National College of Business Administration and Economics, Lahore, Pakistan.
Department of Statistics, National College of Business Administration & Economics, Lahore, Pakistan
Department of Statistics, National College of Business Administration and Economics
COMSATS Institute of Information Technology, Islamabad-Lahore Campus, Pakistan.
In this study, different ranked-based sampling (RBS) schemes are used to design a sensitive control chart to monitor the small or moderate shifts in the process mean and named combined EWMA moving average RBS (CEM-RBS) control charts. The average run-length (ARL) and the standard deviation of the run-length (SDRL) through Monte Carlo simulation runs are computed to evaluate the performance of the proposed charts in comparison with the existing charts such as MA, EWMA, EWMA-MA and the ranked set sampling (RSS) based EWMA control charts. It is proved through a comparative study that the proposed CEM-RBS charts indicate a significant improvement in the performance of the EWMA-MA chart by using the RBS concept. A real dataset-based example is also included to explain the concept in detail.